Tips for Preventing Elder Financial Abuse in Minnesota

Written By: Kenneth LaBore | Published On: 12th October 2014
Protect Seniors -  Elder Abuse - Financial Abuse and Exploitation

Protect Seniors –  Elder Abuse – Financial Abuse and Exploitation

Prevent Elder Financial Abuse in Minnesota

Elder financial abuse happens all of the time. It occurs in nursing homes, by family members, by home health workers, and many others. So now authorities in Minnesota and one senior center are offering some tips on how to prevent this type of elder abuse.

As a part of this gaining up against elder financial abuse, one senior center executive and a financial executive have joined together to bring about awareness of financial abuse to the senior community. This led to a discussion on October 16 that gave information to seniors and their families regarding how to prevent the growing trend of elder financial abuse.

It was noted that banks play an important role in protecting its senior customers, especially since it is seniors that are too often victimized. In the meantime, it is important for seniors to be aware of the signs of financial abuse and for families to be aware. Being that family members tend to be among those that victimize seniors the most, it is also important that individuals are aware of the consequences of financial abuse if they are caught doing so.

Signs of Financial Abuse

Such signs of financial abuse can include funds disappearing from a bank account, money disappearing from a senior’s wallet, accounts on a senior’s credit report that they did not open, and purchases on a credit card statement that they don’t remember making.

Some also defraud seniors out of money by “borrowing” money for a bogus reason. Some have even taken a senior’s money and used it to pay their own bills to then “pay back” the money to make the “borrowing” less obvious or unknown.

Even individuals working in the financial sector have been found to abuse seniors financially in some way. The same applies to healthcare workers that have been found to have stolen money from their patients by using their debit cards or borrowing money and not repaying it. Some forms of financial abuse can be prosecuted and have to pay back the funds and/or serve jail time.

If it suspected that there is a problem, seniors are encouraged to keep a record of possible incidents. From there, it is very important to tell someone so they can look into the matter. This someone can be a family member or someone at the nursing home, if the elderly individual is staying in a nursing home. Many times when a senior suspects that they are being financially violated, they are right. It should not be passed off as them forgetting that they made a purchase or they didn’t enter a charge in their bank book.

While this abuse is not physical, it is mental and there are many seniors throughout Minneapolis and St. Paul that are going through it. Because of the aging population and an economy that is still difficult for some to navigate, it is believed that elder financial abuse is going to continue to rise.

Report Financial Abuse – Theft From Residents

Click Here For Link To Report Abuse To Adult Protection

Click Here For Link To Report Abuse To Adult Protection

For more information from the Minnesota Department of Health, Office of Health Facility Complaints concerning nursing homes, assisted living and other elder care providers view resolved complaints at the MDH website.

If you have concerns about financial exploitation or any other form of elder abuse or neglect contact Minnesota Elder Abuse Attorney Kenneth LaBore toll free at 612-743-9048 or toll free at 1-888-452-6589 or by email at KLaBore@MNnursinghomeneglect.com.

Disclaimer

Free Consultation on Issues of Elder Abuse and Neglect Serving all of Minnesota Toll Free 1-888-452-6589

Free Consultation on Issues of Elder Abuse and Neglect Serving all of Minnesota Toll Free 1-888-452-6589

 

Facebooktwittergoogle_plusredditpinterestlinkedinmail

Tags:

<< Back To Blog